I would avoid running those unless you are really having issues with Windows installer.
"Source Path Update" will change where Windows thinks the application was installed from. If you look in HKLM\Software\Microsoft\Windows\CurrentVersion\Uninstall\GUID\InstallSource will hold the path that the package was installed from. Windows needs this in order to perform a self heal or repair and in some cases for an uninstall if the local software cache is missing.
Windows installer repair will do things like re-registering the service which I assume the quick one would perform and full repair might go so far as to reinstall the windows installer components.
I honestly almost never need to use those, I've only had a handfull of computers that throw errors like "Windows Installer Service Could not be accessed". I would definantly not run those on a schedule.
Soon, and I'm dreading the day, I need to move my software repository from a share hosted on an old physical server to a DFS share and then I would run the source path update for every piece of software installed.
Jason